Amazon Next 5-Year Forecasts Groceries and Consumables as Major Revenue Generator
Amazon, with its deep roots in Indian eCommerce industry, foresees 50% of its revenue generation coming from groceries and household consumables over the next five years. The statement was given by the Indian Amazon head, Amit Agarwal.
There is no clarity as to when the AmazonFresh will be launched, but the company is sure to meet every single household requirement under one roof with its huge product category. From tomatoes to turnips and dishwasher to car cleaners, the store will stock everything that falls under consumer consumables so that they initiate and finish their entire household shopping at one go. Even perishable items like meat, vegetables, and dairy products are guaranteed to be delivered within two hours.
AmazonFresh is a flagship category of grocery delivery service in the US which operates with the name of Amazon Pantry in India. To delivery groceries, the company has partnered with local vendors in the Indian market to make sure and fresh deliveries. The future plans to expand and include more number of products in the category may lead to 50% of revenue coming from this category only.
Indian eCommerce industry is poised to be worth $200 million in the coming decade with Amazon alone having more than 1 million registered users. The high demand for online grocery is a great opportunity for the company to cash-on. It targets another one million users on its site by offering excellent product exchange and payment options.
According to Amazon founder Jeff Bezos, e-commerce in India is a highly fertile ground. The number of prime members in India in the very first year has left behind other locations in having the maximum number of Prime members. Looking at the welcoming opportunities, a company is ready to invest hugely in the Indian market and maintain its supremacy. Investment in grocery sector is the next big focus area.